There are opportunities to capture and transport carbon dioxide for storage. Credit: Carol M. Highsmith/ Library of CongressAccording to a University of Texas at Austin study, the stage is set for the creation of a new carbon storage industry along the Gulf Coast. The region offers ample opportunities to capture carbon and store it. Recent federal and state incentives have also helped to encourage people to get involved.Carbon capture and Storage (or CCS) is a technology that traps CO2 and stores it underground. It can reduce climate change by lowering industrial emission while new energy sources are developed, according to Tip Meckel. This senior researcher scientist at the Gulf Coast Carbon Center is a research group at UT Bureau of Economics Geology that has been studying CCS over the past 20 years.Meckel stated that "this is a viable method to reduce emissions in near term." It's possible and can be supported by an economic structure that can create, retain and support jobs.This study was published in Greenhouse Gases: Technology. It provides an overview of CCS policy incentives and how Texas and Louisiana's unique offshore geology and high concentration of industry make them a good place to create a carbon storage economy.These topics are particularly relevant given recent Texas moves to allow carbon storage to be subjected to the same regulatory framework as oil or gas. Governor Greg Abbott signed HB 1284 into law in June. Greg Abbott signed HB 1284 into law. This gives the Texas Railroad Commission the same regulatory authority as for oil and gas wells. The Texas General Land Office announced in May that it would accept lease proposals for CO2 storage sites on state land off the coast of Jefferson County. The Texas Permanent School Fund will receive any royalties or revenue related to storage, just like oil and gas activity.Oil and gas companies used to rely on carbon storage and capture for enhanced crude oil recovery. This allows them to extract more oil from depleted reservoirs and pump in CO 2. The use of enhanced oil recovery is well-established and has resulted in a network of pipelines that transport CO2 along the Gulf Coast. These measures were also used to build the Texas carbon capture facilities.This map shows the Gulf Coast infrastructure, which could be used to develop a regional carbon capture and storage center. This infrastructure includes hydrogen pipelines and commercial CO2 pipes. Credit: Meckel and al. / University of Texas at Austin.The study shows that carbon storage is becoming more attractive due to falling oil and gas prices, an increasing 45Q federal credit, which offsets different levels of tax liability for industries depending on how CO 2 is stored."Before we only had one option: enhanced oil recovery," said Charles McConnell, former Assistant Secretary of Energy. He is now the executive director of Carbon Management at the University of Houston, and was not part of this study. "We are now in a completely different place. Storage can be profitable in its own right.The paper discusses how existing CO2 infrastructure could be leveraged to increase carbon storage beyond enhanced oil recovery. Researchers highlight the Gulf Coast's subsurface geology as a good spot for permanently storing CO 2.Researchers also noted that Texas' state-owned lands now extend to 10.35 miles offshore, instead of the usual 3.45. This is due to a law that was in effect when Texas was a sovereign country. This historical act simplifies today's issues of permitting and ownership.The combination of geology and infrastructure on the Gulf Coast makes it a great place to boost a carbon storage economy. However, the study also revealed that the region produces a lot of CO 2. Texas is the state with the highest levels of CO2 emissions. Louisiana is the second.Meckel stated that capture and storage can be used to reduce some of these emissions at their source. This technology can reduce CO2 emissions by storing CO2 as low-carbon energy options mature on the market.Meckel stated that "Advancing carbon storage and capture is something we can do right now." You must get started now if you want to make a significant impact on [the carbon] profile."Learn more Study plans to overcome barriers for hydrogen energyT.A. provides more information. Meckel et al., Carbon capture and utilization and storage hub design on the Gulf Coast Greenhouse Gases. Science and Technology (2021). T.A. T.A. DOI: 10.1002/ghg.2082
